Nigerian banks lose N9.5bn in first eight months of 2023

Nigerian banks have lost a whopping N9.5 billion to electronic frauds since the beginning of 2023.

This is as the Nigeria Electronic Fraud Forum (NeFF), on Friday, called for new measures and increased collaboration to curb the rising trend in electronic fraud.

The forum, chaired by the Central Bank of Nigeria (CBN) at its third quarter general meeting held in Lagos on Friday, focussed on, “New Strategies for Combating e-Fraud in a Cashless Environment”.
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